Published on 9/1/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $17.58 million Accelerated Return Notes linked to S&P MidCap 400
By Angela McDaniels
Tacoma, Wash., Sept. 1 - Royal Bank of Canada priced $17.58 million of 0% Accelerated Return Notes due Oct. 26, 2012 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the index, up to a maximum return of 19.5%. Investors will be fully exposed to any index decline.
Bank of America Merrill Lynch is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying index: | S&P MidCap 400
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Amount: | $17,580,840
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Maturity: | Oct. 26, 2012
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 19.5%; exposure to any index decline
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Initial level: | 872.39
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Final index level: | Average of index's closing levels on five days ending Oct. 23, 2012
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Pricing date: | Aug. 30
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Settlement date: | Sept. 7
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Agent: | Bank of America Merrill Lynch
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Fees: | 2%
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Cusip: | 78009M744
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